| | | continuing dialogue from here Message 32666465
comment, the gold shares beaten down may just zoom to the levels of the the gold shares that hardly budged
but in order for such to be sustainable, seems to me gold must rise. do not see gold rising as there are so many competing uses for cash
let's see, maybe 'at the margin' works
On 10 Apr 2020, at 8:09 AM, H wrote:
Some individual stocks have already broken out to new highs, among them NEM. I take that as a good omen, since NEM is the only gold stock in the SPX and the one generalist investors tend to buy first.
On Thu, Apr 9, 2020 at 10:11 PM S wrote:
Thanks for that HB. A pretty strong statement was made today supporting that analysis. There is a lot of room for HUI to catch up to gold, a of room.
------- Original Message -------
On Wednesday, April 8, 2020 11:49 PM, H wrote:
Before I go to bed, I wanted to briefly elaborate on that remark. For some reason, the 50/200 dma's are really quite important demarcations for the gold sector. I attach a few charts from previous rallies off lows below the 200 dma which illustrate the point. The long and the short of it is: it is not easy to get through, but once they do get through, it is usually quite meaningful. 1998 was an attempt that failed, the others eventually succeeded. I have not included 2016, but it also showed that getting through these moving averages from below tends to be a very strong bullish signal. |
|
